The post Ripple Price News: Analyst Who Called XRP’s $3.36 Top Expects $2 Retest, Then Breakout appeared first on Coinpedia Fintech News
Popular crypto market analyst Francis Hunt, better known as “The Market Sniper,” recently shared his latest views on XRP’s price movements — and while the token has been stuck in a range for some time, Hunt says a big breakout is still on the cards.
A Perfect Call at $3.36 and What Followed
Hunt recalled that his team had accurately called XRP’s previous high at $3.36, a price they predicted would act as a temporary top. Since hitting that level, XRP has fallen into what he describes as a falling wedge pattern — a technical setup where the price steadily moves lower within a narrowing range. Typically, falling wedges tend to break upwards, and Hunt expects XRP to follow this pattern eventually.
The Importance of the $2 Support Zone
According to Hunt, the $2 mark has become one of the most crucial support levels for XRP. Even though the token dipped below it a few times, each drop was quickly bought up, showing there are big buyers in that area. He believes this is a good sign for long-term bulls, as it means strong hands are defending the price around $2.
While the current market isn’t showing much strength — especially with Bitcoin taking a hit recently — XRP still hasn’t broken down decisively. Hunt points out that while he exited some of his positions at the $3.36 high, he’s watching for a chance to jump back in if XRP drops slightly below $2 for brief periods, as it could offer “one or two lucky fills.”
Why the Falling Wedge Matters
The falling wedge pattern XRP is stuck in has lasted longer than expected, but according to Hunt, the longer this kind of setup holds, the stronger the eventual breakout tends to be. He explained that most of XRP’s trading action has happened in the lower half of the wedge, hinting that pressure is building for an upward move.
However, Hunt warns that external market shocks — such as geopolitical conflicts or economic crises — could temporarily derail this setup.